Ping An rated as low ESG Danger Score by Sustainalytics

Finest rating amongst Mainland China’s insurance coverage corporations HONG KONG and SHANGHAI, July 6, 2022…

Finest rating amongst Mainland China’s insurance coverage corporations

HONG KONG and SHANGHAI, July 6, 2022 /PRNewswire/ — Ping An Insurance coverage (Group) Firm of China, Ltd. (hereafter “Ping An” or the “Group”, HKEx:2318; SSE:601318) has been rated as low ESG danger by Sustainalytics, a world main ESG (Environmental, Social and Governance) score agency. With a rating of 18.3, Ping An earned the most effective rating amongst Mainland China’s insurance coverage corporations, a testomony to the Group’s glorious ESG danger administration functionality.

Sustainalytics thought of seven materials ESG points that would influence Ping An’s financials and operation outcomes: Company Governance, Enterprise Ethics, Human Capital, Knowledge Privateness and Safety, ESG Integration-Financials and Resilience. Primarily based on their evaluation, Ping An’s total ESG Danger Score was 18.3, a “Low ESG Danger” rating. Sustainalytics gave Ping An a “Negligible” ESG Danger Score in Product Governance, ESG Integration-Financials and Resilience, probably the most favorable score in its five-tiered system from “Negligible” to “Extreme”.

Sustainalytics has rated over 14,500 corporations in several industries, together with over 290 insurance coverage corporations all over the world. Ping An ranks first amongst Mainland China insurers.

As an built-in monetary conglomerate, Ping An has taken a number one position within the observe of ESG danger administration, integrating core theories and requirements of ESG into the Group’s danger administration system. In 2022, with greater than 30 years’ expertise within the trade, Ping An upgraded its complete danger administration system based mostly on its observations of regulatory and trade adjustments. The chance administration system recognized 11 basic danger classes together with compliance dangers, credit score dangers, liquidity dangers, and data expertise dangers, and 4 danger classes particular to insurance coverage corporations. Administration of those dangers promote and guarantee steady long-term improvement of the Group. Specifically, Ping An is specializing in the influence of local weather change on its enterprise. As prompt by the worldwide Activity Power on Local weather-related Monetary Disclosure (TCFD), Ping An has developed a danger identification framework for local weather change-related dangers, and utilized danger identification outcomes to the insurance coverage and funding screening course of to scale back these dangers.

Sustainalytics famous that the corporate’s total administration of fabric ESG points is powerful. Info safety administration is likely one of the most crucial points of Ping An’s enterprise improvement, and the Firm’s data safety administration system is ISO 27001 licensed, which is taken into account world greatest observe in data safety. Ping An focuses on the influence of enterprise ethics on its stakeholders, together with shareholders, prospects, workers, companions and the group, in addition to the influence on the atmosphere. On the enterprise ethics entrance, the corporate strives to coach workers often and has board-level oversight on compliance. As well as, Ping An encourages key workers to serve the Firm on a long-term foundation with a complete long-term incentive and self-discipline mechanism. Ping An’s Key Worker Share Buy Plan and Lengthy-term Service Plan assist to strengthen the Firm’s governance construction and promote long-term sustainable improvement. As of December 31, 2021, the variety of workers collaborating in Ping An’s Key Worker Share Buy Plan and Lengthy-term Service Plan reached 89,304.

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About Ping An Group

Ping An Insurance coverage (Group) Firm of China, Ltd. (“Ping An“) strives to change into a world-leading retail monetary companies group. With over 223 million retail prospects and practically 657 million web customers, Ping An is likely one of the largest monetary companies corporations on the planet. Ping An focuses on two over-arching domains of exercise, “built-in finance” and “healthcare”, protecting the availability of economic and well being care companies by means of its built-in monetary companies platform and ecosystems in monetary companies, healthcare, auto companies and sensible metropolis companies. The “finance + expertise” and “finance + ecosystem” methods intention to supply prospects and web customers with modern and easy services utilizing expertise. As China’s first joint inventory insurance coverage firm, Ping An is dedicated to upholding the very best requirements of company reporting and company governance. The Group is listed on the inventory exchanges in Hong Kong and Shanghai. Ping An ranked sixth within the Forbes World 2000 listing in 2021 and ranked sixteenth within the Fortune World 500 listing in 2021.

For extra data, please go to www.group.pingan.com and observe us on LinkedIn – PING AN.

About Sustainalytics

Sustainalytics, a Morningstar firm, is a number one unbiased ESG analysis, rankings and knowledge agency that helps buyers all over the world with the event and implementation of accountable funding methods. Sustainalytics works with lots of of the world’s main asset managers and pension funds who incorporate ESG and company governance data and assessments into their funding processes. The agency additionally works with lots of of corporations and their monetary intermediaries to assist them take into account sustainability in insurance policies, practices and capital initiatives. For extra data, go to www.sustainalytics.com.

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SOURCE Ping An Insurance coverage (Group) Firm of China, Ltd.